News


  • Connecticut expands building code adoption cycle

    Connecticut expands building code adoption cycle

    On June 9, 2026, Connecticut Governor Ned Lamont signed a bill into law that lays the groundwork to expand the state’s building code adoption cycle to every six years rather than the current three years. Housing affordability was a primary driver of the new law.

    The law calls for the state to pause its adoption of model building codes between the 2024 and 2030 cycles. The current law calls for the state to adopt new building codes within 18 months of their publication.

    The Home Builders & Remodelers Association of Connecticut (HBRA-CT) was instrumental in getting the law passed and providing more stability to home builders in the state. HBRA-CT officials successfully argued that adopting new building codes on a six-year cadence strikes the right balance between the need to keep up with evolving technologies and the ability of all impacted parties to transition to new code requirements. It also allows the industry to accumulate meaningful practical experience with adopted codes before deciding on new changes.

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  • June 2026 Housing Market Forecast

    June 2026 Housing Market Forecast

    The National Association of REALTORS released an analysis forecasting the housing market dynamics in June, including sales, inventory and buying trends. The analysis cited various factors, called seasonality trends, that influence the housing market and compared the current market conditions to previous seasonality trends to predict the June 2026 housing forecast.

    The analysis found that existing-home sales typically rise by 8.2% during the month, reaching their highest level of the year on average. The beginning of the summer marks a distinct shift in the housing market, characterized by the end of the school year for most localities, additional daylight and consistently warm weather. These conditions provide more flexibility for potential buyers to view a wider range of open listings.

    June usually sees an average increase of 0.8% in housing inventory, presenting specific advantages for sellers, including the optimal moving conditions previously mentioned, if they plan to buy and the high prices associated with the season.

    Historically, the average home spends about 30 days on the market in June, representing the fastest turnover in the year, alongside May. The favorable weather conditions drive prospective buyers to spend more time viewing homes, resulting in more frequent offers and decreasing the days spent on the market.

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  • Residential Contractor Magazine: Coming July 2026
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    Residential Contractor Magazine: Coming July 2026

    Residential Contractor Magazine

    THE PROJECTS. THE PRODUCTS. THE PROS.

    Residential Contractor connects manufacturers with the remodelers, contractors, trades and dealers shaping today’s residential construction market.

    The Summer 2026 issue features the National Deck Competition Winner’s Showcase alongside the products, tools, technology and business solutions driving better, more profitable projects.

    If you are interested in participating please contact fiona@builder.media 

  • May 2026 Luxury Housing Market Report

    May 2026 Luxury Housing Market Report

    Luxury home prices across the U.S. reached $1,283,432 in May 2026, despite year-over-year declines continuing at -1.4%. The pace of annual softening has pulled back considerably from the 5%-plus drops seen in early 2025, suggesting an uptick in the national luxury housing market.

    Among tracked luxury metros, Minneapolis and Boise City, Idaho, have fully surpassed their pandemic-era peaks as of February, at 5% and 4.2%, respectively. The composition of the top 10 luxury markets was unchanged from April, with the same 10 appearing in slightly different order.

    Year over year, Naples-Marco Island, Fla., at 4.3%, and Crestview-Fort Walton Beach-Destin, Fla., at 3.2%, were the only markets on the list with positive annual price growth.

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  • June 2026 Housing Market Forecast

    June 2026 Housing Market Forecast

    The National Association of REALTORS released an analysis forecasting the housing market dynamics in June, including sales, inventory and buying trends. The analysis cited various factors, called seasonality trends, that influence the housing market and compared the current market conditions to previous seasonality trends to predict the June 2026 housing forecast.

    The analysis found that existing-home sales typically rise by 8.2% during the month, reaching their highest level of the year on average. The beginning of the summer marks a distinct shift in the housing market, characterized by the end of the school year for most localities, additional daylight and consistently warm weather. These conditions provide more flexibility for potential buyers to view a wider range of open listings.

    June usually sees an average increase of 0.8% in housing inventory, presenting specific advantages for sellers, including the optimal moving conditions previously mentioned, if they plan to buy and the high prices associated with the season.

    Historically, the average home spends about 30 days on the market in June, representing the fastest turnover in the year, alongside May. The favorable weather conditions drive prospective buyers to spend more time viewing homes, resulting in more frequent offers and decreasing the days spent on the market.

    Read Full Article

  • Less young adults are first-time homebuyers

    Less young adults are first-time homebuyers

    According to a report from First American, young adults are the missing gap in first-time homebuyers. Nearly half of 20-to 24-year-olds still lived with their parents in 2025. Only about 25% of 25-to 29-year-olds owned their homes.

    The reality is that homeownership is arriving later in life for young adults, with the delay often originating at moving out of their childhood homes.

    Young adults are moving through traditional markers of adulthood, such as moving out, work, marriage and children, on a different timeline than previous generations. As those milestones shift, the housing sequence that often follows,  moving out, renting and buying, also shifts.

    Most young adults are still renting. While today’s renters are likely to become tomorrow’s buyer, that “tomorrow” is happening later in life. The reasons for this vary between affordability challenges, as well as other life milestones that have shifted into the later years, such as school, work or family.

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  • Lennar announces C-suite changes

    Lennar announces C-suite changes

    Lennar, one of the nation’s largest homebuilders, announced two appointments in its C-suite: Jim Parker named Chief Operating Officer and David Grove appointed to Executive Vice President, Homebuilding.

    Parker joined the company in 2018 following its merger with CalAtlantic Homes. Following the merger, he served as a Regional President for the builder. In 2003, Parker founded Parker Chandler Homes and sold the company three years later.

    Grove joined Lennar in 1999 as a Construction Area Manager in Austin. He was then named Division President in 2004 and Regional President for Texas in 2022.

    “Jim and David are tenured, proven Lennar leaders who are energized by the opportunity ahead,” said Stuart Miller, Lennar’s Executive Chairman, Chief Executive Officer and President. “They have consistently delivered strong results for our teams and our business. More than that, they exemplify our core values — building quality homes and delivering more value to our customers, always with the highest level of integrity.”

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  • Connecticut expands building code adoption cycle

    Connecticut expands building code adoption cycle

    On June 9, 2026, Connecticut Governor Ned Lamont signed a bill into law that lays the groundwork to expand the state’s building code adoption cycle to every six years rather than the current three years. Housing affordability was a primary driver of the new law.

    The law calls for the state to pause its adoption of model building codes between the 2024 and 2030 cycles. The current law calls for the state to adopt new building codes within 18 months of their publication.

    The Home Builders & Remodelers Association of Connecticut (HBRA-CT) was instrumental in getting the law passed and providing more stability to home builders in the state. HBRA-CT officials successfully argued that adopting new building codes on a six-year cadence strikes the right balance between the need to keep up with evolving technologies and the ability of all impacted parties to transition to new code requirements. It also allows the industry to accumulate meaningful practical experience with adopted codes before deciding on new changes.

    Read Full Article

  • Residential Contractor Magazine: Coming July 2026

    Residential Contractor Magazine: Coming July 2026

    Residential Contractor Magazine

    THE PROJECTS. THE PRODUCTS. THE PROS.

    Residential Contractor connects manufacturers with the remodelers, contractors, trades and dealers shaping today’s residential construction market.

    The Summer 2026 issue features the National Deck Competition Winner’s Showcase alongside the products, tools, technology and business solutions driving better, more profitable projects.

    If you are interested in participating please contact fiona@builder.media 

  • NAHB study analyzes homebuilding regulatory costs

    NAHB study analyzes homebuilding regulatory costs

    A new study from the National Association of Home Builders (NAHB) analyzed homebuilding regulatory costs, comparing results from the 2026 survey to a previous one conducted in 2021. The 2026 survey revealed that, on average, regulations imposed by the government at all levels account for $131,734, or 26.4%, of the final price of a new single-family home built for sale. Of this amount, $46,795 is due to a higher price for the finished lot, a direct result of regulations imposed during the lot’s development. The remaining $84,939 is the result of regulatory costs imposed on the builder during construction, after the builder purchases the finished lot.

    According to the study, regulatory costs are one of several factors, including record increases of tariff rates on building materials, ongoing skilled labor shortage, a decrease in available lots and tighter lending conditions, currently limiting the supply of housing, particularly housing for the entry-level market.

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  • Mortgage rates decrease to 6.48%

    Mortgage rates decrease to 6.48%

    On June 4, 2026, Freddie Mac announced that the 30-year fixed-rate mortgage (FRM) averaged 6.48%, according to its Primary Mortgage Market Survey. The FRM decreased from the week before, when it averaged 6.53%. A year ago at this time, the 30-year FRM averaged 6.85%.

    “The 30-year fixed-rate mortgage decreased to 6.48% this week,” said Sam Khater, Freddie Mac’s Chief Economist. “With mortgage rates in the mid-6% range and income growth outpacing home price growth, housing affordability is marginally improving.”

    The 15-year FRM averaged 5.79%, down from the week prior when it averaged 5.87%. A year ago at this time, the 15-year FRM averaged 5.99%.

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  • Mortgage rates average 6.41% in May

    Mortgage rates average 6.41% in May

    According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.41% in May 2026, up 7 basis points (bps) over April. Additionally, the average 15-year rate averaged 5.76% in May, up 7 bps from April and up 33 basis points since the end of February.

    The 10-year Treasury yield, a key benchmark for long-term borrowing, averaged 4.47% last month, 16 bps higher than in April. Stronger-than-expected inflation pushed yields upward, with the 10-year yield reaching 4.6% during the month. Rising energy prices kept inflation high, as fuel oil prices increased 5.8% and gasoline prices rose 5.4%.

    Persistently high inflation has also impacted household budgets, with the personal saving rate falling to 2.6% in April.

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  • Average homebuyer’s down payment decreases

    Average homebuyer’s down payment decreases

    According to a new Redfin analysis, the average homebuyer’s down payment is down from last year, falling to $64,000 in March 2026, down 1.5% year-over-year. The average down payment was 15%, down from 16.1% in 2025.

    Down payment percentages were highest in three California metros: San Jose, San Francisco and Anaheim, all at 25% each.

    Down payments were lowest in Virginia Beach at 2% and Detroit at 5%, which are both considered affordable markets.

    The data in the report is from an analysis of county records across 40 of the most populous U.S. metropolitan areas. March 2026 is the most recent month for which data is available.

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  • Cole West announces new President of Homebuilding

    Cole West announces new President of Homebuilding

    Cole West, one of the nation’s fastest-growing homebuilders, announced Chris Winter’s appointment to President of Homebuilding. Founded in 2016 by Colin Wright, the privately-held Utah-based company currently has 21 active communities across the state.

    Winter’s last position at the company was Division President for Cole West’s Southern Utah homebuilding operations. Previous to Cole West, he served as Vice President of Finance in Northern California for PulteGroup.

    “Chris’ proven leadership and deep understanding of the Utah market make him exceptionally well-suited to lead our homebuilding operations during a time of significant growth,” said Darlene Carter, CEO of Cole West. “Chris has already overseen the development of more than 1,400 homes throughout his tenure with Cole West. His expertise, vision, and commitment to our team and local community are invaluable as we continue to expand our presence throughout the state.”

    “It has been a privilege to be part of Cole West’s evolution from a startup homebuilder to a leading, diversified real estate company in Utah, and I am honored to step into the role of Homebuilding President,” said Winter. “I appreciate our commitment to, and unwavering pursuit of, excellence through intentional design, quality craftsmanship, and a commitment to building communities that we can be proud of. We have some exciting projects in the works, and I look forward to helping shape these communities.”

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  • Builder confidence increases in May

    Builder confidence increases in May

    The National Association of Home Builders (NAHB) released the NAHB/Wells Fargo Housing Market Index (HMI) for May 2026. The HMI is based on a monthly survey of single-family builders who are asked to rate three specific conditions of the housing market: present sales of new single-family homes, expected sales of single-family homes for the next six months and traffic of prospective buyers of new single-family homes. Builder confidence in the market for newly built single-family homes increased three points to 37 in May.

    The survey revealed that 32% of builders cut prices in May, down from 36% in April. However, the use of sale incentives was up 61% in May, a slight increase from 60% in April.

    Key factors that can impact the HMI include interest rates, employment rates, material costs and inflationary pressures.

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  • Cotality reports June U.S. home price insights

    Cotality reports June U.S. home price insights

    Cotality released the June 2026 U.S. home price insights. The report found that overall, the year-over-year home price increase remains relatively steady at 0.4%. However, the recent surge in mortgage rates has disrupted the spring homebuying season and reversed some of the affordability gains created by the lower rates seen throughout 2025.

    “Market strength suggests that some buyers remain insulated from mortgage-rate volatility and are supported by substantial home equity and stock market gains,” said Cotality Chief Economist Dr. Selma Hepp. “Meanwhile, markets that depend more heavily on traditional mortgage financing and rate-sensitive buyers are seeing prices stay relatively flat. Overall, fewer markets posted year-over-year price declines in April than in prior months, pointing to continued stabilization across the housing market.”

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  • Private residential construction spending increases in April

    Private residential construction spending increases in April

    Private residential construction spending was up 0.8% in April 2026, following the monthly gain of 0.6% in March. Gains in single-family and home improvement spending largely drove this increase. Overall, total private residential construction spending was 1.7% higher than a year ago.

    According to the latest construction spending data from the U.S. Census, single-family construction spending increased 1.4% in April, consistent with the steady builder confidence reflected in the National Association of Home Builders/Wells Fargo Housing Market Index.

    Improvement spending also increased in April, rising 0.4% for the month and remaining a bright spot year over year, with spending up 7.5% from April 2025.

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  • Construction employment increases in 32 states

    Construction employment increases in 32 states

    Construction employment rose in 32 states from April 2025 to April 2026, according to an analysis of new federal data released by the Associated General Contractors of America (AGC)on May 22, 2026. Texas added the most construction jobs, adding approximately 18,700 jobs, followed by North Carolina, Ohio, Louisiana, Illinois and Missouri. Louisiana had the largest percentage gain in the span of 12 months.

    “It’s encouraging to see construction employment increasing in many parts of the country,” said Ken Simonson, the AGC’s chief economist.

    In April 2026, Florida added the most construction jobs with 6,000, followed by Texas with 3,500, Massachusetts with 3,100, North Carolina with 2,700 and New Mexico with 2,600.

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  • 10 cities lead new home construction

    10 cities lead new home construction

    Consumer Affairs analyzed data on new building permits and new-construction home sales across the 150 largest U.S. metros in early 2026.  The data ranked areas based on both the number of new-build permits issued and the number of new homes sold, with each factor weighted equally. Based on the analysis, 10 cities are leading the charge in new home construction, with thousands of new housing permits issued and more than 15,000 newly constructed homes sold.

    Four of the top cities in new home construction were in Texas, with Dallas holding the leading spot. The city had 11,327 new building permits issued and over 3,000 new construction homes sold.

    Houston follows closely behind in second place, followed by New York, Phoenix, Atlanta and Los Angeles, respectively. Austin, Texas, ranked No. 7, followed by Washington, D.C., Charlotte, N.C. and San Antonio.

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  • Housing affordability increases in Q1 2026

    Housing affordability increases in Q1 2026

    Housing affordability conditions for first-time and entry-level buyers are improving at a reasonable pace. According to the National Association of Home Builders’ (NAHB) Wells Fargo Cost of Housing Index (CHI), in Q1 of 2026 the income share needed to buy a new home dropped 4% from Q2 2025.

    Despite mortgage rate changes and overall economic uncertainty, this exhibits promising signs for housing affordability for everyday Americans. The trend continues to existing homes, where income share needed to purchase dropped from 37% in Q2 2025 to 32% in Q1 2026.

    “The U.S. data for the percentage of earnings needed to purchase a new home in the first quarter is based on a national median new home price of $403,200 and median income of $106,800, said Rose Quint, assistant vice president for survey research at NAHB. “The first quarter median new home price is down slightly from $405,300 in the fourth quarter of 2025.”

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  • HUD releases report on best homebuilding practices

    HUD releases report on best homebuilding practices

    The Department of Housing and Urban Development (HUD) released the State and Local Best Practices for Home Construction Report, a series of regulatory actions for state and local governments to increase efficiency and ease regulatory barriers to housing construction and affordability. The report provides a clear starting point for all state and local governments to begin or continue an active effort to remove unnecessary burdens to home construction. Best practices are sorted into three categories: Cut Home Construction Costs, Unlock Land for New Housing Supply and Accelerate Construction Timelines.

    “HUD is encouraging our state and local partners to take inventory of their regulations and policies and make changes that will lower the cost to build and enable more efficient housing supply growth,” said HUD Secretary Scott Turner. “These best practices are an initial list of recommendations to facilitate growth while respecting communities’ unique needs. Adding efficiency to local building processes will result in more affordable homeownership opportunities for all Americans.”

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  • Builder sentiment reports steady increase in May

    Builder sentiment reports steady increase in May

    The National Association of Home Builders’ (NAHB) Wells Fargo Housing Market Index (HMI) of Builder sentiment reported a modest gain in May, bouncing back after April’s decrease. The HMI posted a 37 for newly built single-family homes.

    NAHB cites the 21st Century ROAD to Housing Act could settle builders’ concerns while increasing housing supply.

    “The housing market remains soft as higher mortgage rates, rising gas prices and economic uncertainty related to the war in Iran continue to dampen buyer demand,” said NAHB Chairman Bill Owens. “However, efforts in the House to modify the 21st Century ROAD to Housing Act could increase the nation’s housing supply and help ease builder concerns.”

    Regionally, the Builder sentiment in Midwest registered a slight, one-point gain to 43 and the Northeast followed with a one point increase to 42. The South reported no change at 35, while the West dipped one point to 28.

    “Recent increases for long-term interest rates will continue to hold back home buyer demand,” said NAHB Chief Economist Robert Dietz. “Although some regional markets, including parts of the Midwest, are showing relative strength, the housing market continues to face significant affordability challenges.”

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  • Pending home sales see 1.4% increase

    Pending home sales see 1.4% increase

    According to a report from the National Association of Realtors (NAR), the spring housing market saw a slight bump in activity in April, as pending home sales increased by 1.4% since March. Pending sales increased in the Northeast, Midwest and West, but declined in the South. Year-over-year pending home sales rose in the Midwest, South and West, but declined in the Northeast.

    The report, released on May 19, 2026, follows the release of data indicating that the National Association of Home Builders/Wells Fargo sentiment index notched a 3-point gain in May.

    “Buyers are coming out with cautious optimism despite increasing economic uncertainty and a slight rise in mortgage rates,” said NAR Chief Economist Lawrence Yun. “Demand will easily be even higher once mortgage rates retreat to the levels they were at earlier this year.”

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  • Sumitomo Forestry Completes Acquisition of Tri Pointe Homes

    Sumitomo Forestry Completes Acquisition of Tri Pointe Homes

    Sumitomo Forestry announced the successful completion acquisition of Tri Pointe Homes. In closing of this transaction,  Tri Pointe Homes is now a wholly owned subsidiary of Sumitomo Forestry America and will cease trading on the New York Stock Exchange.

    Through the acquisition of Tri Pointe’s more than 160 active communities, the homebuilder expects to deliver around 15,000 units annually across 18 states. This makes Sumitomo Forestry of the highest-volume homebuilders in the nation. Sumitomo Forestry Group is engaged in a broad range of global businesses centered on wood, including forestry management, the manufacture and distribution of wood building materials, the contracting of single-family homes and medium- to large-scale wooden buildings, real estate development and wood biomass power generation.

    “Together with Tri Pointe Homes and our existing five U.S. homebuilders, we are well positioned to expand scale, enhance management efficiency and improve profitability toward our Mission TREEING 2030 goal of supplying 23,000 homes annually in the U.S. by 2030,” said Toshiro Mitsuyoshi, President and Executive Officer of Sumitomo Forestry.

    “Joining the Sumitomo Forestry Group marks an exciting new chapter for Tri Pointe Homes, building on the past 17 years of standalone growth delivering over 58,000 homes to U.S. families and communities,” said Doug Bauer, Tri Pointe Homes’ Chief Executive Officer. “With a shared strategic vision, values and culture, we are well positioned to accelerate our growth while continuing to deliver design-driven homes and exceptional customer experiences.”

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  • U.S. home prices rose 0.2% in April

    U.S. home prices rose 0.2% in April

    U.S. home prices rose 0.2% month over month in April on a seasonally adjusted basis and climbed 2.1% year over year. The Redfin Home Price Index, which uses the repeat-sales pricing method to calculate seasonally adjusted changes in single-family home prices, found that, overall, improving homebuyer demand could fuel further price gains in the coming months.

    “An improving labor market is buoying homebuyer demand, which is keeping home price growth afloat,” said Redfin Senior Economist Asad Khan. “Even though prices are rising, buyers still have bargaining power because they’re outnumbered by sellers. If housing demand keeps climbing, sellers may regain some of that power, causing home prices to rise further.”

    In Montgomery County, Pa., home prices climbed 2.5% month over month on a seasonally adjusted basis in April; the biggest increase among the U.S. metropolitan areas.

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  • Housing market shows signs of stabilization

    Housing market shows signs of stabilization

    According to a recent Redfin analysis, the housing market is beginning to show signs of stabilization. Approximately 35.4% of U.S. home sellers cut their asking price in April 2026 as an incentive to attract homebuyers. This marks a slight decrease from 35.6% in March and down from a record high of 36.6% in August 2025.

    Price cuts have become slightly less common due to the housing market beginning to stabilize. Homebuyer demand is rising, which is helping sellers regain negotiating power. In response to an improving job market, homebuyers are beginning to return. Although buyers are still slightly outnumbered by sellers, which prompted sellers to lean more into incentives, they are less so than before, indicating a shift in the power balance.

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  • Q1 2026 Homebuilding Permit Overview

    Q1 2026 Homebuilding Permit Overview

    Over the first three months of 2026, there were 214,655 permits issued nationwide to construct new single-family homes. This was down 7.6% from the first quarter of 2025. However, multifamily permits grew 7.1% to 121,404 total units over the first quarter of the year.

    At a state level, 12 states recorded year-over-year increases in single-family permits in March, with gains ranging from 18.6% in Alabama to 0.2% in Minnesota. Ten states issued the highest number of single-family permits, which accounted for 63.7% of all single-family permits issued nationwide. Texas led the country with 35,231 single-family home permits issued at the end of Q1 2026.

    Elevated financing costs, ongoing affordability challenges and softer builder sentiment continued to weigh on single-family construction activity, while multifamily permitting remained supported by demand for rental housing.

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